To clarify for anyone reading, `eval-defun` needs to be called with a prefix argument to instrument the first function, and `edebug-instrument-callee` (`I`) can be used to instrument the function following point in edebug's source-code-buffer, which I think is what you reffered to as a backtrace; I printed the edebug manual and brought it to work with me, in which I see that you can get a real back trace by calling `edebug-pop-to-backtrace` (`d`).
By `disassembled `, I meant bytecode, which after thinking about for a bit, maybe it could be done with lapcode, which is like bytecode made of s-expressions, but what I'd really want is a way to see the stack. Anyway, that seems like a whole 'nother beast, outside the scope of edebug.
Edit: I was looking for an evaluation list, see `edebug-visit-eval-list` (`E`) and `edebug-update-eval-list` (`C-c C-u`) c: